E2open Ocean Shipping Index Shows Improved Port Performance

E2open Parent Holdings, Inc. (NYSE: ETWO), the connected supply chain SaaS platform with the largest multi-enterprise network, has released the Ocean Shipping Index (OSI) for the third quarter of 2023. This is a quarterly benchmark report that provides insights into decision-making in global ocean freight transportation.

(Karlsruhe) The data from the report indicates that the total time from booking to receipt of goods on global shipping routes has stabilized.

The e2open Ocean Shipping Index is a data-driven reference for freight companies. It helps to understand how long it takes to transport goods internationally and what factors contribute to the observed delays. The report is based on historical data from the e2open network, which includes over 420,000 connected companies managing 14 billion transactions and tracking 71 million containers annually. By capturing data up to the booking date, the e2open Ocean Shipping Index provides valuable insights that can assist companies in their decision-making.

“As expected, the average shipping duration has stabilized on most major global routes. While there are a variety of factors affecting ocean transport delivery times, timely insights into changes can help manage unplanned delays,” said Pawan Joshi, EVP Products and Strategy at e2open. “Port wait times, customs clearance, and other conditions continue to present expected but unpredictable disruptions. Although not every disruption can be precisely predicted, timely information about delivery times and port activity can provide stakeholders across the entire value chain with the necessary flexibility and confidence to make informed decisions in an ever-changing environment.”

Key Findings of the Report:

• The global average for shipments was 58 days from the first booking to clearance at the destination port; there is no difference from the previous quarter. The average duration has decreased by about 10 days year-over-year (68 days in the third quarter of 2022).
• The workflow in ocean container shipping appears to have stabilized at the current duration. Other factors now need to be optimized to shorten the duration and meet industry standards.
• This quarter, port operations seem to have improved – for example, at the Port of Long Beach, the time between loading and unloading decreased by 23 percent; export times were also improved in the Mexican ports of Manzanillo and Altamira.
• Data from Dun & Bradstreet shows that clearance times in Asian, North, and South American ports have decreased by 10 to 18 days compared to the same period last year, while a slight increase is observed in European ports.

This report is one of several benchmark reports provided by e2open to assist companies in navigating increasingly complex global supply chains.

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